Azerbaijan, Baku, Nov. 3 / Trend , N.Ismayilova /
A representative office of the Latvian leasing company Baltikums Līzings has passed state registration at the Azerbaijani Tax Ministry through the "single-window" system, the ministry reported.
The office was registered on Oct. 20 and will be located in Baku. The representative of the company is Grigorjevs Mihails and the founder Baltikums Līzings.
Baltikums Bank AS is the owner of Baltikums Līzings.
The bank is a major shareholder of a set of subsidiaries in Riga that are part of the Baltikums Concern.
Today, the state leasing company "AqroLizinq" and 22 leasing companies and private banks are providing leasing services in Azerbaijan. The country's leasing portfolio rose from $ 2.5 million in 2003 to 165 million manat in 2010.
The official exchange rate is 0.7868 manat to $3 on Nov. 3.